Teekay Tankers Ltd. (NYSE:TNK) gapped up prior to trading on Tuesday . The stock had previously closed at $1.16, but opened at $1.11. Teekay Tankers shares last traded at $1.11, with a volume of 17128 shares traded.
A number of equities research analysts have issued reports on TNK shares. Jefferies Financial Group started coverage on shares of Teekay Tankers in a research report on Monday, October 1st. They issued a “hold” rating and a $1.00 price objective for the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Teekay Tankers in a research report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $1.52.
The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $300.78 million, a PE ratio of -10.50 and a beta of 1.87.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Thursday, August 2nd. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.11). Teekay Tankers had a negative net margin of 13.20% and a negative return on equity of 7.43%. The business had revenue of $84.70 million during the quarter, compared to the consensus estimate of $77.53 million. During the same period in the prior year, the firm posted ($0.04) EPS. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities analysts predict that Teekay Tankers Ltd. will post -0.35 EPS for the current year.
A number of hedge funds have recently modified their holdings of TNK. Wells Fargo & Company MN grew its position in shares of Teekay Tankers by 41.4% during the 1st quarter. Wells Fargo & Company MN now owns 344,134 shares of the shipping company’s stock valued at $409,000 after acquiring an additional 100,748 shares during the period. BlackRock Inc. grew its position in shares of Teekay Tankers by 0.9% during the 1st quarter. BlackRock Inc. now owns 9,714,598 shares of the shipping company’s stock valued at $11,561,000 after acquiring an additional 85,310 shares during the period. Guggenheim Capital LLC grew its position in shares of Teekay Tankers by 30.6% during the 1st quarter. Guggenheim Capital LLC now owns 1,837,326 shares of the shipping company’s stock valued at $2,186,000 after acquiring an additional 430,659 shares during the period. Bienville Capital Management LLC bought a new position in shares of Teekay Tankers during the 2nd quarter valued at approximately $1,026,000. Finally, Renaissance Technologies LLC grew its position in shares of Teekay Tankers by 51.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,203,510 shares of the shipping company’s stock valued at $2,578,000 after acquiring an additional 750,400 shares during the period. 25.65% of the stock is owned by institutional investors and hedge funds.
Teekay Tankers Company Profile (NYSE:TNK)
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company operates through two segments, Conventional Tanker and Ship-To-Ship Transfer. It is involved in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers.
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